Indian stock market mogul Rakesh Jhunjhunwala dies at 62
Jhunjhunwala had a net worth of around $5.5 billion
The Big Bull of Indian markets Rakesh Jhunjhunwala passed away this morning in India’s western Mumbai city. He was 62.Heis survived by his wife,two sons and a daughter.
According to reports, he was brought to the Breach Candy Hospital at 6.45 am, where he was declared dead on arrival.He was said to be suffering from multiple health issues, including kidney ailments.
The veteran investor, often dubbed India’s Warren Buffet, had recently ventured into the aviation industry with his Akasa Air, which began its operations on August 7 this year.
Prime Minister Narendra Modi condoled his demise.
According to Forbes, Jhunjhunwala had a net worth of around $5.5 billion. He is rankedamong the top 500 billionaires.
Jhunjhunwala, born on July 5 1960 to an income tax officer, entered the stock marketin 1985. He started with Rs 5,000 ( $62 approx.) investment at the time.
He got an interest in the stock market after listening to his father discuss it with his friends. Jhunjhunwala’s most profitable investment is Titan, the jewellery play from Tata stable.
The Big Bull investorgraduated from Sydenham College in 1985, Mumbai, after which he joined the Institute of Chartered Accountant of India.
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